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If you’re in the car business, you better like math. I was watching the latest episode of The Fixer. The owner of one of the businesses being considered made a comment when asked about his numbers: “That’s why we have you here, we’re not good with math.” As you can imagine, that answer didn’t go over very well. The host's response was quick and blunt: “That’s one of the worst answers you could’ve …
Continue Reading about Why Dealership Leaders Must Learn to Love the Numbers →
When I walk into a dealership for the first time, I never know what I’m going to find. Sometimes there’s a friendly receptionist and a fresh pot of coffee. Other times, it’s a makeshift accounting office in what used to be the broom closet, where the “controller” is a former parts runner with a R+R login. But one thing is consistent: money - lots of it- is moving. Every day. In and out. …
Continue Reading about The Joys of Internal Controls for Franchise Dealerships →
Over the years, I’ve noticed a persistent misunderstanding in the dealership world: the tendency to dismiss the accounting office as a “cost center.” You’ll hear it in meetings, on the showroom floor, and see it in budget reviews—this idea that if you’re not selling something, you’re costing something. It’s a tidy narrative. Unfortunately, like most tidy narratives, it leaves out the messy …
Bringing a CFO into your dealership can feel a bit like inviting a houseguest who goes through your medicine cabinet, your freezer, and your credit card statements, and then tells you what’s expired, what’s rotting, and why you’re broke. It’s unsettling at first, but if you’re smart, you’ll pour them a cup of coffee and let them keep talking. Timing is everything. Hire a CFO too soon and you’ll …
